BlackBerry raises annual revenue forecast on robust demand for cybersecurity services
Canada's
BlackBerry
raised its
annual revenue forecast
on Tuesday, anticipating steady demand for its
cybersecurity services
amid growing
online crimes
, sending the company's U.S.-listed shares up 6% after the bell.
A rise in
cybercrimes
and hacks has spurred companies to invest heavily in cybersecurity, benefiting firms such as BlackBerry that provide security services.
Cybersecurity remains largely insulated from broader spending volatility and is likely to continue as a top investment priority for customers, analysts have said.
BlackBerry now sees fiscal year 2026 revenue in the range of $508 million to $538 million, up from its earlier forecast of $504 million to $534 million.
The company also raised annual revenue forecast for its
secure communications
segment, which provides intelligent security software to enterprises and governments.
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It expects revenue between $234 million and $244 million for the unit, from its prior forecast of $230 million to $240 million.
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The Waterloo-based company's revenue for the quarter ended May 31 stood at $121.7 million, below $123.4 million reported last year.
Revenue in its QNX business rose 8.1% year-on-year to $57.5 million, while revenue from its secure communications unit fell 7.3% to $59.5 million in the first quarter.
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